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| Wills, Trusts, Estates Wills, trusts, estates, gift tax planning, etc. |
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Aug 7th, 2008, 07:30 PM
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#1 |
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Trusts
My husband's grandmother before she passed away put the bulk of her estate in a trust fund (this is held in Mass). This trust fund allows her daughter (my mother-in-law) to live off the interest (she lives in PA). Upon her passing, from what we understand the trust will dissolve and be split among the four grandchildren and/or their respective spouses (one of whom lives in Mass, two live in NJ and one lives in PA). Our question is: how will we be affected by tax liability or does this trust become part of my mother-in-law's estate when she passes? Thank you.
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Aug 8th, 2008, 09:10 AM
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#2 |
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Top Level Member
Last Online:
Nov 29th, 2008 01:05 PM Join Date: Mar 2008
Posts: 281
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Re: Trusts
Hi--they normally do not give tax advice on this site; you may check with the IRS directly; or your accountant; or the H & R Block web site for 20 dollars: HR Block Tax Advisor link --
H&R Block Ask a Tax Advisor | Do your Income Taxes with Help from an H&R Block Tax Professional |
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Aug 8th, 2008, 12:36 PM
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#3 |
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Re: Trusts
So this trust would not become part of her estate then?
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